Boston Scientific (NYSE:BSX) Given New $62.00 Price Target at Truist Financial

Boston Scientific (NYSE:BSX) had its price objective cut by stock analysts at Truist Financial from $64.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price target suggests a potential upside of 38.79% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Piper Sandler reiterated an “overweight” rating and set a $65.00 target price on shares of Boston Scientific in a research note on Friday, June 12th. Leerink Partners dropped their price target on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Mizuho dropped their price target on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group decreased their price objective on Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $1.63 on Thursday, hitting $44.67. The company had a trading volume of 6,988,711 shares, compared to its average volume of 17,974,990. The stock has a market cap of $66.40 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 0.82 and a beta of 0.58. The stock has a 50 day moving average price of $48.62 and a 200 day moving average price of $66.39. Boston Scientific has a 1-year low of $42.20 and a 1-year high of $109.50. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $0.75 EPS. Boston Scientific’s quarterly revenue was up 11.6% compared to the same quarter last year. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Analysts expect that Boston Scientific will post 3.36 EPS for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock repurchase program on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Boston Scientific

In related news, Director Cheryl Pegus acquired 1,770 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the transaction, the director directly owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 9,800 shares of company stock valued at $554,012 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently modified their holdings of the company. Midwest Financial Partners Investments Inc. grew its position in Boston Scientific by 11.2% during the 2nd quarter. Midwest Financial Partners Investments Inc. now owns 7,870 shares of the medical equipment provider’s stock worth $336,000 after acquiring an additional 790 shares during the last quarter. MBL Wealth LLC boosted its stake in shares of Boston Scientific by 29.0% during the second quarter. MBL Wealth LLC now owns 6,204 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 1,394 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of Boston Scientific by 108.6% during the second quarter. Prospera Financial Services Inc now owns 27,704 shares of the medical equipment provider’s stock worth $1,182,000 after purchasing an additional 14,424 shares during the last quarter. Waddell & Associates LLC grew its holdings in shares of Boston Scientific by 16.8% during the second quarter. Waddell & Associates LLC now owns 13,104 shares of the medical equipment provider’s stock worth $559,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan increased its stake in shares of Boston Scientific by 19.0% in the second quarter. Canada Post Corp Registered Pension Plan now owns 101,583 shares of the medical equipment provider’s stock valued at $4,336,000 after buying an additional 16,254 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.